VERTEX ENERGY Reports Q2 FY2023 Earnings Results on August 9th
August 17, 2023
☀️Earnings Overview
On August 9, 2023, VERTEX ENERGY ($NASDAQ:VTNR) reported its earnings results for the second quarter of FY2023, ending June 30, 2023. Total revenue for the quarter was USD 734.9 million, a decrease of 25.9% year-over-year. Net income was reported at USD -81.4 million, a decrease of -67.0 million compared to Q2 of FY2022.
Stock Price
On Wednesday, August 9th, VERTEX ENERGY reported their second quarter earnings results for FY2023. Despite a lower than expected performance, the company’s stock opened at $4.4 and closed at $4.8, down only 1.8% from the previous closing price of $4.9. While this was a relatively small decline, it did not meet investor expectations for the quarter. The earnings report showed lower than expected revenue due to a decrease in the demand for their products and services. The company also experienced higher operating expenses due to increased costs associated with new product launches and marketing campaigns. Despite these setbacks, VERTEX ENERGY still managed to maintain a healthy balance sheet and strong cash position. Going forward, VERTEX ENERGY will continue to focus on innovation and product development in order to remain competitive in the market.
Additionally, the company will focus on cost-reduction initiatives to improve profitability and ensure long-term sustainability. While it is too soon to tell whether or not these efforts will be successful, the second quarter earnings results demonstrate that VERTEX ENERGY is taking steps to remain a viable player in the energy industry. With the right strategy and execution, the company is well-positioned to meet investors’ expectations in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vertex Energy. More…
| Total Revenues | Net Income | Net Margin |
| 3.11k | 39.16 | -0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vertex Energy. More…
| Operations | Investing | Financing |
| 59.93 | -88.42 | -26.18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vertex Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 855.2 | 613.71 | 2.56 |
Key Ratios Snapshot
Some of the financial key ratios for Vertex Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 182.6% | 61.9% | 2.1% |
| FCF Margin | ROE | ROA |
| -3.9% | 17.7% | 4.7% |
Analysis
GoodWhale has conducted an analysis of VERTEX ENERGY‘s wellbeing. Based on our Star Chart, we conclude that VERTEX ENERGY is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. It is strong in growth, medium in asset and weak in dividend, profitability. VERTEX ENERGY has an intermediate health score of 4/10 with regard to its cashflows and debt, which suggests that it might be able to sustain future operations in times of crisis. Considering the above factors, VERTEX ENERGY may be attractive to investors who are seeking high returns and are willing to take on a higher risk. They may be interested in investing in this company due to its potential for growth and potential to generate high returns. Such investors may also be interested in the company’s competitive advantage in the energy industry, as well as its potential to take advantage of the current market conditions. More…
Peers
In the energy sector, competition is fierce among companies striving to be the top provider. This is especially true for those in the oil and gas industry. One company that has been making waves lately is Vertex Energy Inc. This company has been competing against some of the biggest names in the business, such as Rompetrol Rafinare S.A., Neste Corp, and Esso Thailand PCL. So far, Vertex Energy Inc has been holding its own against these much larger competitors.
– Rompetrol Rafinare S.A. ($LTS:0JK8)
Rompetrol Rafinare S.A. is a Romanian oil refining company. It has a market cap of 2.06B as of 2022 and a Return on Equity of -1.8%. The company refines crude oil and sells a variety of petroleum products, including gasoline, diesel, jet fuel, and heavy fuel oil. It also produces and sells asphalt, bitumen, and other petrochemical products. The company has operations in Romania, Bulgaria, Moldova, and Kazakhstan.
– Neste Corp ($OTCPK:NTOIF)
Neste Corp is a Finnish oil refining and marketing company. It has a market cap of 33.36B as of 2022 and a Return on Equity of 22.26%. The company refines crude oil into transportation fuels, such as gasoline, diesel, and aviation fuel, and produces and sells a range of other petroleum products, such as solvents, lubricants, and asphalt.
– Esso Thailand PCL ($SET:ESSO)
Esso Thailand PCL is a petroleum refining and marketing company. It has a market capitalization of 50.18 billion as of 2022 and a return on equity of 40.5%. The company refines and markets petroleum products in Thailand. It also produces and sells petrochemical products.
Summary
VERTEX ENERGY reported their earnings results for Q2 of FY2023, with total revenue decreasing 25.9% year-on-year, and net income down a drastic 67.0%. This could serve as a warning to investors that VERTEX ENERGY may be facing some financial difficulties, and their outlook may be bleak. It is important for potential investors to do their own research into the company before investing, as any potential investment should be well-informed. Additionally, investors should analyze any long-term trends or data when attempting to forecast the company’s future financial performance.
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